The New York Times Company (NYSE:NYT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of The New York Times Company (NYSE:NYT) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,039 shares of the company’s stock after selling 19,035 shares during the quarter. California Public Employees Retirement System owned 0.17% of New York Times worth $14,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in New York Times by 70.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 982,659 shares of the company’s stock worth $51,147,000 after acquiring an additional 404,558 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of New York Times by 27.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 51,623 shares of the company’s stock worth $2,687,000 after purchasing an additional 11,262 shares during the period. New Age Alpha Advisors LLC purchased a new position in New York Times during the fourth quarter valued at approximately $1,876,000. Norges Bank acquired a new position in New York Times in the 4th quarter valued at approximately $13,823,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after buying an additional 394 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

NYSE NYT opened at $47.54 on Friday. The stock’s 50 day simple moving average is $49.56 and its 200 day simple moving average is $52.55. The firm has a market cap of $7.76 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, equities analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is 40.45%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com lowered shares of New York Times from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley decreased their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

About New York Times

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.